CITY OF SAN MARINO, CALIFORNIA
Notes to the Financial Statements
June 30, 2023
NOTE 11: COMMITMENTS AND CONTINGENCIES
Numerous claims and suits have been filed against the City in the normal course of business. Based upon information received from the City Attorney and the self-insurance administrator, the estimated liability under such claims would be adequately covered by self-insurance designations and insurance coverage.
1. Commitments
At June 30, 2023, the City had two material construction commitments. The Sidewalk Replacement Program contracted for $439,215 and has not incurred any expenditures as of June 30, 2023. The San Marino Community Center Renovation Project contracted for $8,363,766 with total expenditures of $5,745,273 as of June 30, 2023.
The total remaining commitments for these projects is $3,057,708.
NOTE 12. FUND BALANCE CLASSIFICATION
At June 30, 2023, the governmental funds report the following fund balance classifications:
Total Total
Capital Nonmajor Governmental
General Projects Fund Funds Funds
Nonspendable
Notes and loans receivable $ 5,157 $ - $ - $ 5,157
Inventories 106,552 - - 106,552
Prepaid costs 38,426 - - 38,426
Total nonspendable 150,135 - - 150,135
Restricted
Public safety - 551,446 - 551,446
Public works - 3,476,959 - 3,476,959
Community development - 651,371 - 651,371
Parks and recreation - - 19,857 19,857
Debt service - - 16,406 16,406
CEPPT Investments Trust 1,004,869 - - 1,004,869
Total restricted 1,004,869 - 4,716,039 5,720,908
Committed
Community development projects 72,288 - - 72,288
Public safety 33,235 - - 33,235
Parks and recreation 62,325 - - 62,325
Library 77,757 - - 77,757
Total committed 245,605 - - 245,605
Assigned
Capital projects - 15,787,572 - 15,787,572
Total assigned - 15,787,572 - 15,787,572
Unassigned 16,224,014 - (50,036) 16,173,978
Total fund balances (deficits) $ 17,624,623 $ 15,787,572 $ 4,666,003 $ 38,078,198 53 ATTACHMENT 2